According to @Andre_Dragosch, their macro factor model indicates an increasing share of BTC’s recent underperformance is explained by non-macro, bitcoin-specific factors, pointing to idiosyncratic drivers dominating short-term returns; source: @Andre_Dragosch on X (Dec 8, 2025). For trading, this supports prioritizing crypto-specific catalysts and risk controls over broad macro hedges when managing BTC exposure, as the explained variance is shifting away from macro factors; source: @Andre_Dragosch on X (Dec 8, 2025).

According to @Andre_Dragosch, Bloomberg Economics’ in-house quant model indicates BTC’s 2025 downside has been largely driven by crypto-specific factors rather than macro variables, with macro conditions remaining supportive throughout the year, source: @Andre_Dragosch citing Bloomberg Economics. According to @Andre_Dragosch, this aligns with the view that idiosyncratic long-term holder (LTH) selling was the primary driver of BTC’s underperformance versus a positive macro backdrop, source: @Andre_Dragosch citing Bloomberg Economics. According to @Andre_Dragosch, traders assessing near-term BTC risk should emphasize crypto-internal flows—especially LTH distribution/selling—over macro shocks given the model’s attribution, source: @Andre_Dragosch citing Bloomberg Economics.

According to Reetika (@ReetikaTrades), U.S. stocks are roughly 1% below their all-time highs while Bitcoin (BTC) is underperforming, signaling a cross-asset divergence that traders may monitor for relative-strength and rotation setups (source: X post by Reetika on Nov 26, 2025). The post does not specify which stock index or BTC price level, so traders should validate with live market data before acting to align entries and risk levels (source: X post by Reetika on Nov 26, 2025).